Amazon is a 46 dollar stock?? WAhahahahaaaaaaaaa

Discussion in 'Trading' started by bungrider, Sep 19, 2003.

  1. almost at 59!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
     
    #21     Oct 9, 2003
  2. To be safe, I'll wait for a double top, or to be safer, a head and shoulder. But then, haloween is around the corner, it may not have time for a h&s (if it goes down after all).
    One thing worries me (I am bearish on AMZN), is that I never purchased anything on AMZN before, but this year, I've made at least 3 merchandise purchases, and found myself browsing their website a lot. Also don't forget that Christmas is comming.

    Cheers!! :)
     
    #22     Oct 9, 2003
  3. Cutten

    Cutten

    I don't like to fade a well-entrenched trend unless there is a major reversal signal, and I haven't seen one in AMZN yet. I would want to see buying get really mania-like, with a couple of really large spike up days in a row, then some kind of high volume reversal day. Then I'd consider shorting it. IMO you need the shorts to really get screwed, have a day or two of panic short-covering - then that will remove potential buying support and set it up for a big drop.

    Until then, I'd rather look to buy it on dips & breakouts. Why fuss about valuation when there is so much to be made from riding the trend?
     
    #23     Oct 9, 2003